Whether you have an online shop or a brick-and-mortar store, retail self storage can be a cost-effective method of storing stock without crowding your business space.
A functional self storage unit can enable retailers to have easily accessible stock, allowing you to purchase in any desired quantity, without the need to worry about how much space it may take up.
Successful self storage can revolutionise your business operations, and these three points will help you design processes which work, while making the most of your storage.
1. Choose the right retail self storage unit
Taking time to find the right self storage unit for your requirements is a worthwhile exercise, helping you to create a storage process which meets your requirements and benefits your retail operations.
First, you should consider the space you require to hold your stock. When deciding on the size of container you require, think about future expansion plans, your intended layout and the space you would like between products. Choosing the right size of storage space will be vital in not wasting money and also not having to move to a larger space immediately.
Once you know your space requirements, you should rule out any unrealistic self storage facilities by location. Base your choice of retail self storage unit on the distance from your retail store or location you will ship products from. This is particularly important if you will be regularly moving stock between locations, as you can save transportation costs and time by choosing a suitable location for self storage.
Next, think about specific requirements. Do you need WiFi at your self storage unit? Will you require refrigeration? Is the unit’s security suitable? Are trolleys and easy vehicle access available? Can you access your stock 24/7, or are there specific opening hours?
Once you have a list of suitable self storage units, check the contracts and agreements thoroughly. Understand whether there are ranging sizes of units and how much flexibility there is should you wish to cancel, move, upsize or downscale, as and when required.
2. Organise your stock
Organising your stock is vital in creating a smooth-running fulfilment process. Begin by clearly labelling every box and laying it out in a user-friendly way. Think about ways to label products, using colour coding or even the date items were placed in storage to highlight important information you need to know.
Consider your methods of storage, for example, types of shelving you use in your warehouse. Are you wasting space between shelves? If so, could you adjust them to be closer together? Purchasing adjustable shelving units enables flexibility when it comes to storing various sizes of products safely and effectively.
By organising your stock efficiently, you are able to make it easier to carry out accurate stock checks, locate specific items quickly and reduce the likelihood of damages occurring in storage.
3. Be realistic with poor-performing stock
Storing stock that is not selling in your container for long periods of time is costly. With functional labelling systems in place, you are able to regularly assess the sales of items in your storage. Take stock of everything in your storage container on a regular basis, understanding which items may be taking up space, as opposed to selling.
By being honest with yourself about the stock which is sitting in storage for long periods of time, you can adjust purchasing, run promotions, hold giveaway competitions or even give it away to charity. It’s better to free up space for items which will benefit your retail business, rather than hoard poor-performing stock.
These three considerations will help you to efficiently store your stock in a self storage unit that meets your requirements.
Holly brings a wealth of experience in both print and digital publishing. As Modern Retail’s Content Editor, Holly is passionate about helping independent retailers to thrive in today’s ever-changing market.